To Buy Used Car or Instant Car Loan approvals, +91 9900037613
Why New Car Loan with Apnacar?
At Apnacar, get best deals on New Car Loan percentage rates and hassle-free processing. We have partnered with some of the leading banks in the industry, including HDFC, ICICI, SBI and others, we ensure that you get access to the best loan options with minimal documentation requirements.
Best Interest Rates
- 8.65% p.a. Onwards
- Guaranteed Low Interest Rates
- Choose Fixed or Variable Rates
- Interest Rates Adjusted Based on Creditworthiness
Processing Fees
- As Low As 0.25% on Loan Amount
- No Hidden Costs
- Complete Transparency
- Negotiate Fees Based on Financial Profile
Special Assistance
- Best Interest Rates for Bad Credit Profiles
- Tailored Solutions for Enhancing the Likelihood of Loan Approval
- Complete Support for Low Credit Score Profiles
Customers Speak
"Apnacar team helped me with a loan for used car purchase of i20 and even they did Transfer and RTO work very smoothly, I was very satisfied with their process and convincing skills."
"Satisfied with their commitment and knowledge on car loans. Will surely approach them for refinance on my car. Contacted Apnacar and several others while checking online for car loans refinance and personal loans, Apnacar guys were quite convincing."
"They helped me with low interest rate and fast refinance on my car knowledgeable staff at apnacar.👍"
How to Apply for New Car Loans
Applying for a New Car Loan with Apnacar is an easy process designed to offer convenience and efficiency. Here’s a step-by-step guide on how to get started:
- Fill out the contact form by providing the necessary details, you can do it from the comfort of your home. Our new car loan expert will reach out to you.
- Fill out the application sent by our new car loan expert. Our straightforward online application process saves you time and ensures a smooth experience.
- Provide the necessary documents to support your application, including proof of income and identification. This step is important for the quick and accurate processing of your loan application.
- Once your application is submitted, our team will promptly review it. Upon approval, we will work closely with our partner banks to finalize the loan terms.
- Our dedicated team will assist you in finalizing the terms of your New Car Loan. We aim to make this process transparent and tailor it to your specific requirements.
- After finalizing the loan terms, the approved funds will be transferred to your account, allowing you to proceed with the purchase of your dream car.
Contact ApnaCar for a Hassle-Free Experience:
Feel free to reach out to Apnacar at any stage of the process. Our team is here to assist, whether you have questions, need clarification, or require guidance on decisions related to interest rates and loan terms. Expect a easy and hassle-free experience throughout your New Car Loan journey.
Eligibility Criteria for New Car Loan
- Age Limit: You must be within 21 – 60 years of age to apply for New Car Loan.
- Steady Income: This income can come from employment, self-employment, or other sources.
- Credit Score: Your credit score plays a crucial role in determining your eligibility. Higher credit score can improve your chances of approval and may result in better interest rates.
Documents required for New Car Loans
When applying for a New Car Loan, ensure you have a comprehensive set of documents to facilitate a smooth and quick processing of your application. In addition to the previously mentioned essentials, consider the following documents:
- Proof of Residence: Apart from utility bills and rental agreements, consider providing additional proof of residence, such as a voter ID card or passport. This helps in establishing a clear and accurate record of your current living address.
- Proof of Income: Verifying your income is a critical step in the New Car Loan application process. Lenders require assurance that you have a stable and sufficient income to meet the repayment obligations. The commonly accepted documents as proof of income are: Income Tax Returns (ITR), Salary Slips, Bank Statements or any other document to verify your income.
- Vehicle Details: Clearly specify the details of the car you intend to purchase. Include information such as the make, model, year, color, and any additional features or accessories.
- Identity Proof: A clear and current copy of your driver’s license is a widely accepted form of identity proof. It not only confirms your identity but also serves as evidence of your ability to drive, an essential aspect when obtaining a new car loan.
How to get your Car Loan approved faster?
To expedite the approval process for a car loan, you can take several steps to enhance your chances of getting approved faster. Here are some tips:
- Check and Improve Your Credit Score: Your credit score is like a report card for how good you are with money. The higher, the better. Check it and try to make it as good as you can before applying for a car loan.
- Pre-Approval: Get pre-approved for a loan before shopping for a car. Pre-approval provides a clear idea of your budget and strengthens your negotiating position.
- Gather Necessary Documents in Advance: Prepare all required documents, such as proof of identity, income, employment, and residence, before applying. Having everything ready can speed up the application process.
- Choose the Right Lender: Some banks are faster than others. Look for ones known for being quick, like online banks or credit unions.
- Apply Online: Many lenders offer online application processes, which can be quicker than applying in person. Online applications often allow for faster document submission and processing.
- Consider ApnaCar: Check out ApnaCar as an option. We can help you find the best deals and make the process smoother. We work with different lenders and can connect you with the one that suits you best, potentially speeding up the approval process.
New Car Loan FAQs
Applying for a new car loan through ApnaCar offers numerous benefits that make your car financing experience smooth and convenient.
- Best New Car Loan Interest Rates: ApnaCar provides access to some of the most competitive new car loan interest rates in the market.
- Compare and Choose from Multiple Loan Providers: With ApnaCar, you have the advantage of comparing loan offers from multiple providers.
- Transparent and Easy Online Process: ApnaCar offers New Car Loan in Bangalore India with lowest interest rate and help you on low cibil or bad credit. With transparent and user-friendly online application process, you can easily navigate through the loan application, submit your documents.
- Instant Car Loan Approvals: Waiting for loan approvals can be stressful. ApnaCar's efficient system aims to provide instant car loan approvals, reducing uncertainty and allowing you to make informed decisions quickly.
- Instant Finance Options from Leading Banks: You gain access to instant financing options offered by reputable banks.
- Hassle-Free and Fast Loan Disbursement: We understand the importance of a fast loan disbursement process. Upon approval, the disbursement process is designed to be hassle-free and ensure you get the funds when you need them.
If you have a low credit score, obtaining a new car loan can still be possible:
- Get a Co-signer: If your credit score is low, having a co-signer with a better credit history can increase your chances of approval.
- Explore NBFCs: Numerous NBFCs specialize in providing car loans to individuals with low credit scores or bad credit histories.
- Check with Multiple Lenders: Different financial institutions have varying lending policies. Research and approach multiple lenders, including banks, credit unions, and online lenders, to explore your options.
- Expect Varied Terms: Loans extended to individuals with bad credit often come with different terms compared to standard loans. Be prepared for higher interest rates, potentially larger down payments, and stricter repayment terms.
Apnacar analyses your profile and provides the best possible loan solutions for your credit report.
The maximum new car loan amount that you can avail depends on several factors
- Check Lender Policies: Different lenders have varying policies on maximum loan amounts. Some might have stricter criteria, while others could offer more flexibility.
- Calculate Loan-to-Value (LTV) Ratio: The LTV ratio is the percentage of the car's value that a lender is willing to finance. Multiply the car's on-road price by the lender's LTV ratio to determine the potential loan amount.
- Assess Your Financial Situation: Lenders consider your income, credit score, and existing debts when determining the loan amount you can handle. A higher income and better credit score might result in a higher loan approval amount.
- Consider Down Payment: Keep in mind that a larger down payment can impact the loan amount. If you're willing and able to make a significant down payment, it could affect the maximum loan you need.
